Granted i track my car and am trying to tune it to handle better - i have m3 offset control arm bushings, new CA ball joints, lowered suspension, and 1/8" toe out allignment, 16" wheels with some wide tires. let me tell you, this car can turn way better than it used to and has definetly subdued my urge for more HP right now. i need adjustable shocks and thick ass sway bars before im content with the suspension, but this is all still before i plan on engine mods.
One thing that really loaded my car with some new Oompf was the rear differential gear ratio change. let me tell you, THAT is the biggest bang for the buck. but other than all that, i have adjusted valves, new sparks, redline gear oils all around, and keep doing oil changes, you are set.
...i forgot to mention that i still need to upgrade my pads (im not impressed with pagid because of their brake fade), and install SS lines and new blue goo... magma.... i mean brake fluid all before i do engine stuff.
eric doesnt like to agree with free flow engine mods
but i plan to do a modified airbox, big six AFM, 19# injectors, rotor and cap, ignition wires, AFPR with guage, and remove the cat, remove radiator fan, disconnect AC (since its getting cooler again). ... not to mention i have to get bavauto to update my chip at that point. After those mods, its on to the cam and springs but this is where im still undecided; turbo, supercharge, NA with heavy mods, or move to m50+ but it really depends on the class racing i plan to do
more on topic of your CAI... its been tested and proven by fellow bimmer enthusiasts, that the stock airbox is, in fact, still better than any cheap cone filter mod.
hmmm, why the hell am i typing out this much. YOU'RE WELCOME